Core sector output growth slows to 1.6% in January

Core sector industrial production in the country grew at a slow pace of 1.6 per cent in January, dragged down by poor output of coal, petroleum refinery products and natural gas.

Core sector production had grown at 2.1 per cent in December and at a faster 8.3 per cent in the same month a year ago.

The eight core sector industries comprising fertilisers, cement, steel, electricity, crude oil, coal, petroleum refinery products and natural gas, having a combined weight of 37.90 per cent in the general index of industrial production (IIP), recorded a growth of 2.4 per cent during the April-January compared with 6.9 per cent in the same period of 2012-13.

Coal production (which has a weight of 4.38 per cent in the IIP) declined by 0.7 per cent in January 2014 compared to January 2013 while cumulative production during April-January 2013-14 increased by 1.0 per cent over the corresponding period of the previous year.

Production of crude oil (weight of 5.22 per cent in IIP) increased by 3.0 per cent in January 2014 over January 2013 while cumulative production during April-January 2013-14 declined by 0.3 per cent over the corresponding period of previous year.

Natural gas production (weight of 1.71 per cent in IIP) declined by 5.2 per cent in January 2014 compared with January 2013 while cumulative index during April-January 2013-14 declined by 14.1 per cent over the corresponding period of the previous year.

Petroleum refinery production (weight of 5.94 per cent in IIP) moderated by 4.5 per cent in January 2014 over January 2013. However, cumulative production during April-January 2013-14 increased by 1.4 per cent over the corresponding period of the previous year.

Fertilizer production (weight of 1.25 per cent in IIP) recorded a growth of 1.2 per cent in January 2014 over January 2013 and a cumulative growth of 2.5 per cent during April-January 2013-14 over the corresponding period of previous year.

Steel production (weight of 6.68 per cent in IIP) recorded a growth of 3.4 per cent in January 2014 over January 2013. Cumulative growth during April-January 2013-14 was 4.1 per cent over the corresponding period of the previous year.

Cement production (weight of 2.41 per cent) increased by 1.5 per cent in January 2014 over January 2013 while cumulative production during April-January 2013-14 grew 3.4 per cent over the corresponding period of the previous year.

Electricity generation (weight of 10.32 per cent) increased by 5.7 per cent in January 2014 over January 2013 and recorded a cumulative growth of 5.2 per cent during April-January 2013-14 over the corresponding period of the previous year.